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Lenovo Group Ltd.’s net income beat analysts’ expectations by $53 million, or 45 percent. While that upside surprise was helped by slightly stronger revenue and a slimmer operating-expense margin – from a reduction in sales and distribution costs – operating income benefited a lot from one-time accounting items. A fall in gross margin by 0.3 percentage points from a year ...
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November, 2018
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11 November
The dollar is a haven in sea of uncertainty
The dollar has gained about 30 percent against a basket of other major currencies since the start of August 2011, which just happens to be the month that S&P stripped the US of its AAA credit rating. Putting aside the debate over whether credit ratings actually matter for the world’s primary reserve currency, the question at the moment is whether ...
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11 November
Brexit has entered its most dangerous phase
If the European Commission’s chief negotiator, Michel Barnier, utters the words ‘decisive progress’ sometime in the next few days, take notice. It would be the signal that the UK and the European Union (EU) have agreed the terms of their divorce. A summit can be held and the white smoke sent up. That would be a watershed after 16 months ...
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11 November
For China’s bad banks, the future looks worse
Remember we told you China’s stock-market rescuers needed rescuing? Now it looks as if the nation’s bad banks could use a bad bank. The four state-owned managers of troubled debt are in a bind, none more than China Huarong Asset Management Co., whose ex-chairman has just been accused of taking about $240 million in bribes, squandering state assets and maintaining ...
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11 November
Air travel is about to get even less glamorous
For all the disagreement in the industry about the future of aviation, there’s perfect accord on one point: There’s going to be a lot more of it. The world’s air passengers flew a combined 7.64 trillion kilometers (4.75 trillion miles) in 2017, according to Boeing Co.’s latest 20-year market outlook. By 2037, that will rise to 18.97 trillion kilometers, with ...
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11 November
Modi’s demand for surplus reserves worsens rift with RBI
Bloomberg India’s government is asking the central bank to hand over a part of its surplus reserves and loosen liquidity norms for lenders — demands that are likely to escalate a standoff with the monetary authority that’s fiercely protective of its independence. The matter is pending before the board of the Reserve Bank of India and may be taken up ...
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11 November
Buy ‘cheap’ yen before big its big awakening in 2019, says SocGen
Bloomberg It’s time to start loading up on “cheap†yen. Using options to bet on gains for Japan’s currency is a smart wager for 2019, according to Societe Generale. The yen reached its weakest since early October, before recovering as concern over China’s economy fuelled declines in global equities and eroded risk appetite. The yen traded at 113.85 per dollar ...
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11 November
China banks fall on concern loan targets are a step too far
Bloomberg China’s biggest banks dragged down the stock market as investors took a dim view of the government’s unprecedented move to tell firms exactly how much they must lend to the country’s struggling private sector. At least a third of new loans should go to non-state companies, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said. Private ...
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11 November
‘Danske faces ‘years’ of damage control’
Bloomberg The man poised to become chairman of Danske Bank A/S is aware that the task ahead is huge. If elected to the post this month, Karsten Dybvad says he and the board will spend the “coming years†trying to “restore confidence in the bank.†The 62-year-old trained economist has been handpicked by Danske’s biggest shareholder, A.P. Moller Holding A/S. ...
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11 November
Spanish lenders plummet over Mexican fees proposal
Bloomberg Spanish banks were hit for the second time in a week after the Mexican government proposed scrapping certain bank commissions, including ATM withdrawal fees. Banco Bilbao Vizcaya Argentaria SA plummeted as much as 7 percent, the biggest intraday drop in two years. The lender was down 5.7 percent as of 4:25 pm in Madrid trading, the largest decliner in ...
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